Transport Ministry to open a new mass transit line every year
The Transport Ministry recently announced an ambitious aim to open a new mass transit line every year between now and the end of 2020, with 10 more routes planned in Greater Bangkok.
The first new line is the Purple Line from Tao Pun to Bang Yai, which opened in mid August, although the link between Tao Pun station to the MRT Blue Line’s Bang Sue station is still missing. The Mass Rapid Transit Authority (MRTA) is providing a shuttle bus service to connect them and is seeking contractors to build the link, which should be completed and open by 2017.
The Blue Line from Bang Sue to Tha Phra and from Hua Lamphong to Bang
Khae will start in 2018, while two extension lines of the Light Green Line from Bearing to Samut Prakan and Mor Chit to Saphan Mai will be completed in 2019.
The Transport Ministry is in discussions with the Bangkok Metropolitan Administration (BMA) about an asset transfer of the Light Green Line’s two extensions, which will be managed by the BMA.
Three new lines including the Purple Line from Kae Rai to Min Buri, the Orange Line from Thailand’s Cultural Centre to Min Buri and the Red Line from Bang Sue to Rangsit will be completed in 2020.
The ministry also intends to propose an environmental impact assessment (EIA) regarding an extension of the Purple Line from Tao Pun to Rat Burana as well as looking into the feasibility of building 10 more lines across Greater Bangkok over the next decade.
Naturally, the mass transit lines have been key drivers of property values. So far in 2016 the highest increases in land prices year-on-year were recorded in three locations: on Ratchadapisek Road near The Mall Tha Phra; on Kluai Nam Thai-Rama IV Road; and in the Samrong area.
Land prices in Samrong were boosted by the extension of the Light Green Line from Bearing to Samut Prakan.
In locations along the Purple Line from Tao Pun to Bang Yai, land prices rose in 2015 by 9.6 percent on average from the year before.
Prices along the Blue Line from Tha Phra to Bang Khae and Tha Phra to Bang Sue saw an average price increase of 10.52 percent year-on-year, although prices for locations along the Red Line from Bang Sue to Taling Chan only rose 1.9 percent.
By comparison, the average land price increase in Greater Bangkok has been 3.2 percent.